FHA borrowers may not receive cash back from a seller credit, except when it is being applied towards a closing cost that was paid outside of closing, and documented as paid with borrower’s own funds!

FHA borrowers may not receive cash back from a seller credit, except when it is being applied towards a closing cost that was paid outside of closing, and documented as paid with borrower’s own funds!

Answer: [tweet-start]FHA loans with excess seller credit can only be applied to certain fees. Call me for details![tweet-end] FHA seller concessions cannot be used as cash back to the borrower except when being applied towards a closing cost that was paid outside of closing, and documented as paid with the borrower’s own funds. If the […]